Tuesday, 23 October 2012

U.S. Government's Foreign Debt Now $47,495 Per Household

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The debt that the U.S. government owes to foreign interests now
equals approximately $47,495 for each household in the United States,
according to the latest data released by the U.S. Treasury and the
Census Bureau.

The portion of the U.S. government’s foreign debt now owed to interests in Mainland China is about $10,090 per household.

At the end of August, the latest period reported
by the U.S. Treasury, foreign interests held a total of
$5,430,000,000,000 in U.S. government debt. According to the Census
Bureau’s latest estimate
(which was for June 2012) there were 114,328,000 households in the
United States. Therefore, the total U.S. government debt held by
foreign interests was about $47,494.93 per household.

Back in January 2009, foreign interests held a total of $3,071,700,000,000 in U.S. government debt. That month, according to the Census Bureau,
there were 111,079,000 households in the United States. Therefore
the total U.S. government debt held by foreign interests was about
$27,653.29 per household.
Since January 2009, the total U.S. government debt held by foreign
interests has climbed from approximately $27,653.29 per household to
approximately $47,494.93 per household—an increase of about $19,841.64
per household.

Among foreign interests, those in Mainland China hold the largest
share of the U.S. government’s debt. The Mainland Chinese, according to
the Treasury, owned $1,153,600,000,000 in U.S. Treasury securities as
of the end of August.

Back in January 2009, interests in Mainland China held only $739.6
billion in U.S. government debt. That month, the U.S. government owed
about $6,658 per American household to interests in China. As of the end
of August, the U.S. government owed about $10,090 per American
household to interests in China—an increase since January 2009 of about
$3,432 per household.